At Holdings Channel, we have reviewed the latest batch of the 97 most recent 13F filings for the 03/31/2024 reporting period, and noticed that Vanguard Index Funds – Vanguard Total Stk Mkt ETF (Symbol: VTI) was held by 36 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let’s take a look at the change in VTI positions, for this latest batch of 13F filers:
| Fund | New Position? | Change In Share Count | Change In Market Value ($ in 1000’s) |
|---|---|---|---|
| Brown Wealth Management LLC | Existing | UNCH | +$91 |
| Graves Light Lenhart Wealth Inc. | Existing | –849 | +$501 |
| Colonial Trust Co SC | Existing | UNCH | +$17 |
| Coldstream Capital Management Inc. | Existing | +36,410 | +$10,181 |
| Colonial Trust Advisors | Existing | UNCH | +$20 |
| Rathbones Group Plc | Existing | +10 | +$103 |
| Denver PWM LLC | Existing | –4,740 | –$614 |
| Waterloo Capital L.P. | Existing | –3,624 | –$541 |
| Retirement Capital Strategies | Existing | –929 | –$78 |
| C M Bidwell & Associates Ltd. | Existing | +1,579 | +$956 |
| Wealth Group Ltd | Existing | +662 | +$240 |
| Walled Lake Planning & Wealth Management LLC | Existing | +238 | +$116 |
| Hall Kathryn A. | Existing | +5,416 | +$1,939 |
| Gerber Kawasaki Wealth & Investment Management | Existing | +157 | +$515 |
| Farther Finance Advisors LLC | Existing | –1,053 | –$15 |
| Farther Finance Advisors LLC | Existing | –1,053 | –$15 |
| Farther Finance Advisors LLC | Existing | –1,053 | –$15 |
| Spotlight Asset Group Inc. | Existing | UNCH | +$8 |
| Stifel Financial Corp | Existing | +16,516 | +$16,231 |
| BBR Partners LLC | Existing | +8 | +$2,035 |
| Wells Financial Advisors INC | Existing | UNCH | +$2 |
| Sonora Investment Management Group LLC | Existing | +7,122 | +$1,907 |
| TFO Wealth Partners LLC | Existing | –3,215 | –$635 |
| Sax Wealth Advisors LLC | Existing | +2,524 | +$1,030 |
| Northwest Wealth Management LLC | Existing | –1,385 | +$1,552 |
| Mattern Wealth Management LLC | Existing | +2,018 | +$773 |
| Mattern Capital Management LLC | Existing | –120 | +$66 |
| Crewe Advisors LLC | Existing | +56 | +$258 |
| Evermay Wealth Management LLC | Existing | –4,387 | –$48 |
| Front Street Capital Management Inc. | Existing | UNCH | +$78 |
| Burns Matteson Capital Management LLC | Existing | –9 | +$197 |
| Allianz Asset Management GmbH | Existing | +53,200 | +$13,928 |
| Dempze Nancy E | Existing | UNCH | +$37 |
| Wade Financial Advisory Inc | Existing | +15,323 | +$8,526 |
| King Luther Capital Management Corp | Existing | UNCH | +$395 |
| HC Advisors LLC | Existing | +494 | +$3,698 |
| Aggregate Change: | +119,316 | +$63,439 | |
In terms of shares owned, we count 16 of the above funds having increased existing VTI positions from 12/31/2023 to 03/31/2024, with 12 having decreased their positions.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the VTI share count in the aggregate among all of the funds which held VTI at the 03/31/2024 reporting period (out of the 4,786 we looked at in total). We then compared that number to the sum total of VTI shares those same funds held back at the 12/31/2023 period, to see how the aggregate share count held by hedge funds has moved for VTI. We found that between these two periods, funds increased their holdings by 2,510,370 shares in the aggregate, from 328,414,038 up to 330,924,408 for a share count increase of approximately 0.76%. The overall top three funds holding VTI on 03/31/2024 were:
We’ll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Vanguard Index Funds – Vanguard Total Stk Mkt ETF (Symbol: VTI).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
